https://www.taxtmi.com/caselaws?id=276651 A partner's share of partnership income is business income, and a partner is not barred in law from claiming deduction of expenditure incurred to earn that income. Tax under section 10 is confined to real profits, so amounts laid out on commercial expediency and shown to be necessary for earning the partnership share may be deducted under section 10(2)(xv) or the general principle applied to business income. The deduction was upheld, subject to proof that the claimed items were in fact incurred for earning the partnership income. en-us Sat, 05 Oct 1963 00:00:00 +0530 Thu, 15 Nov 2018 12:03:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276651 A partner's share of partnership income is business income, and a partner is not barred in law from claiming deduction of expenditure incurred to earn that income. Tax under section 10 is confined to real profits, so amounts laid out on commercial expediency and shown to be necessary for earning the partnership share may be deducted under section 10(2)(xv) or the general principle applied to business income. The deduction was upheld, subject to proof that the claimed items were in fact incurred for earning the partnership income. Case-Laws Income Tax Sat, 05 Oct 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276651